Singapore Economy Contracts in 2nd Quarter

TODAY: July 14, 2014 PUB DATE: July 14, 2014

SINGAPORE--Singapore's economic growth unexpectedly contracted in the second quarter as the country's manufacturing sector dragged overall output. Gross domestic product for the three months to June 30 fell 0.8% on a seasonally adjusted and annualized basis compared with the previous ...

Whiting Petroleum to Buy Kodiak Oil & Gas

TODAY: July 14, 2014 PUB DATE: July 14, 2014

Whiting Petroleum Corp. announced on Sunday that it will buy Kodiak Oil & Gas Corp. in a deal worth $3.8 billion, plus the assumption of $2.2 billion in debt, creating a new top producer in the Bakken Shale and Three ...

China to Seek Larger Role in Brazil's Infrastructure

TODAY: July 14, 2014 PUB DATE: July 14, 2014

When China's President Xi Jinping travels through Brazil this week, he will see airports and other projects financed mainly by the Brazilian government. But, with Brazil's economy slowing and government accounts strained, China is looking to play a larger role ...

Singapore Economy Unexpectedly Contracts in Second Quarter

TODAY: July 14, 2014 PUB DATE: July 14, 2014

By Jake Maxwell Watts SINGAPORE--Singapore's economic growth unexpectedly contracted in the second quarter as the country's manufacturing sector dragged overall output. Gross domestic product for the three months to June 30 fell 0.8% on a seasonally adjusted and annualized basis ...

Food Prices Vex Fed Policy Makers

TODAY: July 13, 2014 PUB DATE: July 13, 2014

U.S. food prices are on the rise, raising a sensitive question: When the cost of a hamburger patty soars, does it count as inflation? It does to everyone who eats, especially poorer Americans, for whom food costs are a large ...

Gold Rises as Investors Watch Fed

TODAY: July 13, 2014 PUB DATE: July 13, 2014

By Ira Iosebashvili Gold prices are rising as investors bet that the U.S. Federal Reserve will keep rates at rock-bottom levels, even as the U.S. economy shows signs of improvement. Gold for July delivery rose 1.3% last week to $1,337 ...

Henkel Considers Further Acquisitions -- Report

TODAY: July 13, 2014 PUB DATE: July 13, 2014

Household-consumer-products maker Henkel AG & Co. (HEN.XE) plans further acquisitions, Chief Executive Kasper Rorsted says in the preview of an interview to be published in Sueddeutsche Zeitung on Monday. "We can spend between four billion euros and five billion euros ...

Standard s Downgrades Puerto Rico

TODAY: July 13, 2014 PUB DATE: July 12, 2014

By Josh Beckerman Standard & Poor's Ratings Services on Friday lowered its general obligation rating for Puerto Rico one notch to BB--two notches into junk status--from BB+. The ratings firm said, although it views the recent enactment of a fiscal ...

Fed's Lockhart Still Sees Fed Rate Increase Some Time in 2015

TODAY: July 13, 2014 PUB DATE: July 12, 2014

By Michael S. Derby JACKSON HOLE, Wyo.--Federal Reserve Bank of Atlanta President Dennis Lockhart said Friday he still believes the most likely timing for the central bank to raise interest rates lies well into next year. "I'm sticking to the ...

E.ON Sees No Need for Write-Off in Power Plants -- Report

TODAY: July 13, 2014 PUB DATE: July 12, 2014

Germany's largest energy group E.ON SE(EOAN.XE) sees no need for further write-offs in its power-plant park, Chief Financial Officer Klaus Schaefer says in Boersen-Zeitung Saturday. "Since our latest check, there haven't been any dramatic changes in the electricity price," Mr. ...

Standard s Downgrades Puerto Rico -- Update

TODAY: July 13, 2014 PUB DATE: July 12, 2014

By Josh Beckerman Standard & Poor's Ratings Services has lowered its general obligation rating for Puerto Rico one notch, to BB--two notches into junk status--from BB+, one of several reactions by rating firms to new legislation that allows the overhaul ...

Canadian Dollar Plunges on Disappointing Jobs Report

TODAY: July 13, 2014 PUB DATE: July 12, 2014

By Nirmala Menon and James Ramage The Canadian dollar tumbled Friday after disappointing numbers for jobs and unemployment suggest the country's central bank would leave interest rates unchanged at its policy meeting next week. The greenback gained 0.8% versus the ...

Lawmakers Move to Replenish Highway Trust Fund-- Update

TODAY: July 13, 2014 PUB DATE: July 11, 2014

By Siobhan Hughes WASHINGTON--House and Senate lawmakers Thursday advanced measures to replenish the federal fund that finances road, bridge and mass-transit projects before it runs out of money next month. The HouseWays and Means Committee, in a voice vote, approved ...

Central Bank Says Australian Dollar Overvalued - Report

TODAY: July 13, 2014 PUB DATE: July 11, 2014

By Jason Douglas Investors may be underestimating the risk of a "material decline" in the Australian dollar, the governor of Australia's central bank was quoted as saying Friday. "It continues to be my view that on most standard metrics that ...

U.S. Budget Deficit Narrows

TODAY: July 13, 2014 PUB DATE: July 11, 2014

WASHINGTON--The U.S. budget deficit is falling sharply this year amid higher tax revenues and an improving economy. The federal government's deficit from October through June totaled $366 billion, down 28% from the same period a year earlier, the U.S. Treasury ...

Iraq's Kurdish Fighters Seize Oil Fields

TODAY: July 13, 2014 PUB DATE: July 11, 2014

LONDON--Iraq's Oil Ministry said Friday Kurdish Peshmerga forces had seized control of production facilities at two key oil fields near the northern city of Kirkuk, in a move that could further worsen already frayed relations between the Kurdistan Regional Government ...

BOE Considers Stricter Leverage Limits For UK Banks

TODAY: July 13, 2014 PUB DATE: July 11, 2014

LONDON--Britain's biggest banks could be subject to stricter leverage limits under proposals put forward Friday by the Bank of England. The BOE said in a consultation paper on leverage that its Financial Policy Committee, which spots risks to the financial ...

French Current Account Deficit Widens

TODAY: July 13, 2014 PUB DATE: July 11, 2014

By Stacy Meichtry PARIS--France's current account deficit was wider in May than in April as the goods deficit rose and the services surplus shrank, data from the Bank of France showed Friday. The euro zone's second largest economy recorded a ...

EU, Russia, Ukraine to Continue Talks on Trade Deal Into September

TODAY: July 13, 2014 PUB DATE: July 11, 2014

By Matthew Dalton BRUSSELS--Months of talks aimed at easing Russian fears about a new political and economic deal between the European Union and Ukraine will continue into September, representatives of the three parties agreed Friday. The discussions come as EU ...